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Let’s Keep Billing In-House

Adam Groff

July 01, 2013

Companies that take advantage of in-house billing have the peace of mind that comes with knowing each and every business invoice is personally being tailored to.

And, taking the billing company middleman out of the equation is just one of the many other benefits of companies staying in-house.

So, in keeping with the in-house spirit, the following is a list of the advantages involved when companies take billing into their own hands.

Tracking Expenses

One of the top priorities of any business big or small is keeping track of expenditures.

With in-house billing, not only are all business expenses easily broken down and traced, but if problems do arise in terms of outstanding payments, the company is the first to know.

This translates to less time wasted on client billing and it also expedites late penalties. Throwing an outsourcing company in the mix achieves the same results, but the time spent communicating with outsiders is costly in the billing world.

Invoicing

Companies wanting to handle multiple invoices at once and keep track of client invoice archives should look no further than in-house billing.

And, with the right invoice software, billing every client accurately and on time is possible through one convenient program.

Invoicing technology is improving everyday and with the latest invoicing software, the once arduous process of company-wide invoicing has transitioned to an automated operation.

So, tracking both client and employee finances is possible automatically and on a recurring basis thus reducing labor efforts.

Quicker Payments

In-house billing with invoice software increases a company’s cash flow due to the fact the business will receive client payments faster. In addition, billing information arranged and delivered to clients more efficiently allows for business relationships to strengthen and grow as well.

Think of it this way, when a company takes on a new client, instead of having to create an entirely new invoice for that client from scratch, invoices are created instantly, which streamlines the entire in-house payment process.

Paperless Billing

Another benefit of in-house billing in combination with invoicing software is a decrease in the paperwork involved. Less paperwork means more savings for companies that bill in-house and it’s beneficial to the environment as well.

In addition, companies that go paperless and get rid of the file cabinets have an easier time searching client records as well as converting documents to digital files; the information is digitized from the start.

Decreased Labor Expenses

One of the underlying benefits of in-house billing that’s at the heart of every advantage above is the decreased labor expense. No matter how companies look at it, billing in-house saves money by avoiding costly outsourcing.

And, in terms of the costs associated with a company taking billing into its own hands, most in-house billing teams consist of only one or two trained employees. Add to that the convenience of invoicing software, and the billing team isn’t just accessible, they’re able to work quickly and efficiently too.

As you can see, companies that take advantage of in-house billing end up having more time to conduct business.

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